dslreports logo
site
 
    All Forums Hot Topics Gallery
spc

spacer




how-to block ads


Search Topic:
uniqs
5
share rss forum feed


DKS
Damn Kidney Stones
Premium,ExMod 2002
join:2001-03-22
Owen Sound, ON
kudos:2
reply to MaynardKrebs

Re: GTA is Full of Them - Another "My Rights Are More Impor

said by MaynardKrebs:

said by camelot:

However that is not what the Charter says. The Charter does not say "You are free to practice "in your own home" but no where else."

The Income Tax Act gives recognized fairy tale religious believers a MORE than generous way of funding and having Neverland places of worship on backs of those who don't contribute to such endeavours. That strikes me as a more than fair 'bargain' (tradeoff of competing rights).

That is simply not true. You don't have much understanding of the tax codes which apply to religious groups.
--
Need-based health care not greed-based health care.


Last Parade

join:2002-10-07
Port Colborne, ON
said by DKS:

said by MaynardKrebs:

said by camelot:

However that is not what the Charter says. The Charter does not say "You are free to practice "in your own home" but no where else."

The Income Tax Act gives recognized fairy tale religious believers a MORE than generous way of funding and having Neverland places of worship on backs of those who don't contribute to such endeavours. That strikes me as a more than fair 'bargain' (tradeoff of competing rights).

That is simply not true. You don't have much understanding of the tax codes which apply to religious groups.

I thought churches don't pay property taxes? Sales taxes in some provinces?

MaynardKrebs
Heave Steve, for the good of the country
Premium
join:2009-06-17
kudos:4
said by Last Parade:

I thought churches don't pay property taxes? Sales taxes in some provinces?

You and I, if we are fined by a court and have to sell say 1000 shares of Apple stock today to pay the fine, and our ACB is $8/share -- well we first have to pay our capital gains tax on the stock sale price (today $525/share) less $8 and then pay the fine. Which makes it necessary to sell more stock than is required to simply pay the fine.

On the other hand, a religious body doesn't pay capital gains tax when they sell off assets which have greatly appreciated over the years in order to pay damages in pedophilia cases.


DKS
Damn Kidney Stones
Premium,ExMod 2002
join:2001-03-22
Owen Sound, ON
kudos:2
said by MaynardKrebs:

said by Last Parade:

I thought churches don't pay property taxes? Sales taxes in some provinces?

You and I, if we are fined by a court and have to sell say 1000 shares of Apple stock today to pay the fine, and our ACB is $8/share -- well we first have to pay our capital gains tax on the stock sale price (today $525/share) less $8 and then pay the fine. Which makes it necessary to sell more stock than is required to simply pay the fine.

On the other hand, a religious body doesn't pay capital gains tax when they sell off assets which have greatly appreciated over the years in order to pay damages in pedophilia cases.

That presumes the religious body owns shares in any company at all.
--
Need-based health care not greed-based health care.


DKS
Damn Kidney Stones
Premium,ExMod 2002
join:2001-03-22
Owen Sound, ON
kudos:2
reply to Last Parade
said by Last Parade:

I thought churches don't pay property taxes? Sales taxes in some provinces?

Only on spaces for public worship. They are assessed, however. Otherwise, yes. And yes, churches pay all sales taxes but can request (if they have the BN from the CRA) a rebate.
--
Need-based health care not greed-based health care.

MaynardKrebs
Heave Steve, for the good of the country
Premium
join:2009-06-17
kudos:4
reply to DKS
said by DKS:

That presumes the religious body owns shares in any company at all.

You'd be surprised at the value and breadth of the holding on many religious institutions (I'm not talking about individual congregations). I used to sell fixed income products to all manner of religious and other government & non-government tax-exempt institutions as part of my job, and help them mathematically model their portfolios.


DKS
Damn Kidney Stones
Premium,ExMod 2002
join:2001-03-22
Owen Sound, ON
kudos:2
said by MaynardKrebs:

said by DKS:

That presumes the religious body owns shares in any company at all.

You'd be surprised at the value and breadth of the holding on many religious institutions (I'm not talking about individual congregations). I used to sell fixed income products to all manner of religious and other government & non-government tax-exempt institutions as part of my job, and help them mathematically model their portfolios.

I am well aware of a number of denominational portfolios. I'm on the Finance and Investment Committee of one denominational group. Right now they are not heavily in equities. Lots of cash sitting there in short term instruments.
--
Need-based health care not greed-based health care.